Finance Elder Canadians have been stalwart in maintaining their travel traditions and most have done well. But their descendants – moving up in the ranks – are finding, to their consternation, that it isn’t all that easy. Not content with the “same old, same old,” Canada’s youngest generation of travellers (18 through 40) are favouring purpose-driven trips over suntans: self-reflection, attending sporting events, meeting like-minded peers, new food experiences and let’s not forget romance*. But many are also cutting back on personal luxuries, neglecting rents or mortgage payments, taking financial risks and even disregarding safety guardrails (such as travel insurance) to subsidize their travel “experience.” These travellers are finding that they have to make tough choices. *Flight Centre Travel Group (Canada), Beyond Borders Survey As was reported in a TD/Maru Public Opinion poll in 2024: Canadians of all ages told pollsters that travel budgets were tight, that they were finding creative ways to save for upcoming trips by forgoing dining out or buying new clothes (63 per cent) and one-third responded that they would not be buying travel insurance due to a lack of adequate funds. That included 36 per cent of Gen Zs (18-28) and 16 per cent of millennials (29-44). For them, it was an “either/or” situation, with 32 per cent also looking for special travel deals and incentives; 26 per cent travelling outside of peak times; 17 per cent buying groceries instead of dining out (in addition to buying fewer souvenirs), declining upgrades or extras, taking shorter trips and turning to an old standby – staying with family or friends – an escape hatch resorted to by 29 per cent of domestic (in-country) travellers. Overall, the 35- to 54-year-old age group was the most likely to put off dreams of a trip for lack of money. In addition, a Conference Board of Canada (CBOC) report on 2025 summer travel trends noted that, of the 80 per cent of outbound travellers claiming to have travel insurance, 50 per cent had single-trip or annual multi-trip policies, while 36 per cent said that they had coverage through their employee benefits packages and 13 per cent were covered by their credit cards. Generally, credit card travel insurance has many limitations on medical coverage, especially for clients with pre-existing conditions. But they do have one advantage for their owners – there’s no extra charge. The CBOC survey also revealed that, of the 63 per cent of respondents planning some leisure travel between May and October 2025, 35 per cent would be travelling within Canada and 27 per cent were going outbound. (The remaining responses concerning travel destination were unintelligible.) Also, and not to be forgotten, seven per cent of all respondents noted that they or their partner were not healthy enough to travel, a concern rising to 14 per cent among respondents 55 or older. CANADIANS YEARN TO TRAVEL But Money is Scarce By Milan Korcok 34 | www.snowbirds.org
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